• Spanish luxury market to grow 5.5% this year

    2016-12-19 |

      The Spanish luxury goods industry is estimated to reach €6 billion in sales this year, representing a 5.5% growth on last year fuelled by exports and the country’s economic recovery.

      According to new research from Luxury Spain, published by Efe, exports will account for 52% of all sales of Spanish luxury goods.

      Domestic demand will grow 2% in 2016, contributing 25% to the total revenue, while revenue from international sales will remain stable and account for 23.5% of the total.

      “International consumers are increasingly visiting Spain to acquire high-quality Spanish-made products. Our firms are valued for their innovation and tradition,” said Cristina Martin, president of Luxury Spain.

      Spanish companies, she pointed out, don’t belong to big corporations or have big budgets. They stand out for their exclusivity and excellence, she said.

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